Investors have checked plenty of boxes off their 2021 market bingo cards lately: a V-shaped recovery in the S&P 500 after a quick bear market, a wild cryptocurrency rally, and beaten-down meme stocks generating short squeezes.
Investors also likely remember how quickly that market became overvalued at the end of 2021, and the succeeding 2022 bear market that lingered for nearly a year as the Federal Reserve committed to crushing inflation.
